On 23 February 2022, the European Commission released its proposal for a directive on Corporate Sustainability Due Diligence. This directive could represent a landmark step forward in minimising the negative impacts of businesses on workers, communities and the environment worldwide. In response, over 220 NGOs and trade unions from around the world welcome the proposal as an essential and long-awaited step toward corporate accountability, responsible business conduct and access to justice.
However, the proposal contains significant flaws that risk preventing the directive from achieving the positive impact that people, planet, and climate urgently need. The undersigned human rights, labour and environmental organisations and networks call on the European Parliament and EU Member States to strengthen the text in line with what EU citizens, workers and communities affected by corporate abuses worldwide have vocally and publicly demanded.
The joint statement outlines our collective views on how to improve the proposal to guarantee that the law will effectively prevent corporate harm to human rights, the environment and climate; as well as provide victims of corporate abuse with access to effective remedies.
As part of its strategy to implement the European Green Deal and the Action Plan on Financing Sustainable Growth, the European Commission presented its proposal for a Corporate Sustainability Due Diligence Directive (CSDDD).
Following months of negotiations in the European Parliament, the amendments to the CSRD proposal have been approved by the JURI committee this Tuesday 15th of March.
The Corporate Sustainability Reporting Directive (CSRD) proposal stipulates that EFRAG should be responsible for carrying out a due process to draft, consult and deliver EU sustainability standards for adoption by the European Commission. On 1 March, the EFRAG General Assembly appointed the members of the EFRAG Sustainability Reporting Board, which will be responsible for all sustainability reporting positions of EFRAG, including technical advice to the European Commission on draft EU Sustainability Reporting Standards and related amendments.
